From competencies to a complete solution

As our network grows, customers are increasingly able to access the knowledge and capabilities of the entire group. In 2024, we deliberately expand this network with additional engineering, development and manufacturing capabilities.

At the end of January, STS Defence Limited from Gosport joins us. The company specialises in mission-critical electronics and communications systems for Aerospace & Defence and employs 150 people. With the acquisition, Cicor expands its presence in the United Kingdom and further strengthens its market position in Aerospace & Defence.

With the acquisition of Evolution Medtec S.r.l. in Bucharest, we expand our product development for medical technology. Shortly afterwards, the TT Electronics IoT Solutions Ltd. sites in Newport and Hartlepool, United Kingdom, as well as Dongguan, China, add further international manufacturing capabilities. In November, Nordic Engineering Partner AB, with four development offices and 45 employees, strengthens our product development capabilities and gives us access to the Scandinavian market.

With each new capability, the benefits for our customers also increase. Greater depth of development expertise, regional proximity, international production options and access to the collective knowledge of the group enable closer support and can accelerate customer projects.

In 2024, we are broadly positioned: 33 percent of our revenue comes from industrial electronics, 25 percent from Aerospace & Defence, 24 percent from medical technology and 18 percent from other markets. At the same time, we strengthen our position in Aerospace & Defence. In this way, our network is evolving into an even more capable development and manufacturing offering across national borders.